TM International Berhad Enters Into Shareholder Agreement With NTT Docomo Inc
TM International Berhad (“TMI”) and its wholly owned subsidiary, TM International (L) Limited (“TMIL”) today announced the entry into a Shareholders Agreement with NTT DoCoMo, Inc (“DCM”) of Japan to regulate the relationship of the parties as shareholders in TM International (Bangladesh) Limited (“TMIB”).
Currently, TMI and TMIL collectively hold 70% stake in TMIB. The balance 30% is held by A.K. Khan & Co Ltd (“AKK”). AKK is exiting TMIB and has entered into a share sale and purchase agreement to sell its entire stake in TMIB to DCM. TMIB, trading under the brand name Aktel, operates a cellular GSM service in Bangladesh. As at end of the first quarter of 2008, TMIB has 7.4 million subscribers.
The Shareholders Agreement will become effective upon the completion of the sale by AKK to DCM. In welcoming the decision by DCM to become a shareholder in TMIB, TMI's President & Group Chief Executive Officer, Dato' Jamaludin Ibrahim said, “We are pleased that a highly-innovative company like DCM has chosen to invest in TMIB and look forward to the contribution that DCM will bring to further strengthen and improve the services and offering of TMIB.”
“We would like to express our deep appreciation to AK Khan & Co for their unrelentless contribution to TMIB throughout our partnership over the years. In the next phase of development, we aim to make TMIB more competitive. TMIB customers can look forward to more innovative products and services as well as better network coverage,” Dato' Jamaludin added.
DCM is the largest cellular operator in Japan with approximately 54 million subscribers. It offers a variety of services including i-Mode, e-wallet and e-credit card services. It also has investments in other cellular operators in Hong Kong, Korea, Philippines, Taiwan, Guam and Northern Mariana Islands and Malaysia.
ABOUT TM INTERNATIONAL BERHAD (TMI)
TM International (TMI) is an emerging leader in Asian telecommunications with significant presence in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia. In addition, the Malaysian-grown holding company has strategic mobile and nonmobile telecommunications operations and investments in India, Singapore, Iran, Pakistan and Thailand.
The Group's mobile subsidiaries and associates operate under the brand name ‘Celcom' in Malaysia, ‘XL' in Indonesia, ‘Dialog' in Sri Lanka, ‘AKTEL' in Bangladesh, ‘HELLO' in Cambodia, ‘Spice' in India, ‘M1' in Singapore, and ‘MTCE' in Iran (Esfahan).
Listed on Bursa Malaysia, TMI is among the top ten biggest public limited companies in Malaysia by market capitalisation, and the first listed pan-Asian pure cellular service provider in the region.
The Group's, including subsidiaries and associates, has about 44 million mobile subscribers in Asia, putting it among the largest mobile telecommunication providers in the region by turnover. The Group has approximately 13,000 people under employment in ten countries.
For more information on TMI visit: www.tmigroup.com